Japan pledges 20 billion Yen to Papua New Guinea

JAPANESE Prime Minister Shinzo Abe last night announced K4.7 billion (20 billion yen) assistance to Papua New Guinea over the next three years and that the two countries would enter into a double-taxation agreement.

Abe, the first Japanese prime minister to visit PNG in 29 years, made the announcement at a short Parliament press conference after a meeting with Peter O’Neill and senior government ministers.

The meeting was held after his arrival at 3.45pm on a Japanese Government Boeing 747 from Australia, from where he was whisked to Government House to pay a courtesy call on Governor-General Sir Michael Ogio.

Abe told reporters that the Japanese and PNG delegations discussed bilateral cooperation in the region and the international arena.

“Japan has committed to extend economic cooperation amounting to 20 billion yen over the coming three years,” he said.

“Prime Minister O’Neill and I share the view about the two countries’ cooperation towards a double-taxation agreement as soon as practicable.

“Next year will mark the 40th anniversary of diplomatic relationships between Japan and PNG.

“I really feel that the relationship between the two countries has greatly developed.

“O’Neill and I share the intention to develop a friendly and cooperative relationship.

“I’d like to cooperate in develop the relationship between the two countries further, and sharing stability and prosperity in the Pacific region.”

O’Neill said the meeting discussed many issues about the bilateral relations between the two countries.

“Our relationship is very strong and growing in terms of trade and investment,” he said.

“Japan is now becoming our largest trading partner and into the future.

“Japan is a very strong development partner to PNG and a strong development partner to the Pacific countries.

“We welcome this opportunity to engage with the Prime Minister of Japan and his delegation, and I hope that they enjoy to their trip to Papua New Guinea, and especially to Wewak, East Sepik.”